The role of economic freedom and clean energy in environmental sustainability: implication for the G-20 economies

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dc.contributor.authorAlola, Andrew Adewale
dc.contributor.authorAlola, Uju Violet
dc.contributor.authorAkdag, Saffet
dc.contributor.authorYildirim, Hakan
dc.date.accessioned2025-03-17T12:27:35Z
dc.date.available2025-03-17T12:27:35Z
dc.date.issued2022
dc.departmentTarsus Üniversitesi
dc.description.abstractWith the increasing challenge of attaining sustainable balance in socioeconomic-ecosystem activities, the aspects of the global goals are continously being harnesed in order to ensure a sustainable interaction. As an alliance of the United Nations, the G-20 member countries have not only committed to attaining the Sustainable Development Goals 2030, the alliance body has further fostered frameworks that are targeted at advancing global economic and environmental sustainability. Within this context, the current study examined the environmental sustainability effects arising from the economic freedom prowess in the panel of the G-20 economies over the period 2000-2016. Among the sparse studies, the study employed the indices of economic freedom: freedom to trade internationally, regulation, sound money, legal framework, and property right and alongside the real income and renewable energy consumption as explanatory indicators. With the result of the difference- and two-step system GMM (generalized method of moments), the legal system and property right, sound money, freedom to international trade, and regulatory efficiency are detrimental to the panel countries' environmental quality. Although this is likely to be untrue for countries that have advanced their climate actions and especially the Sustainable Development Goals (SDGs) 2030, it suggests a dearth in the SDGs achievement among the developing and emerging economies. Moreover, it probably shows the depth of traditional or business-as-usual practices (such as the lack of sustainable economic and environmental practices) and the socioeconomic system that are obtainable in most of the developing and emerging economies. Thus, the study put forward tangible policies that are essential for governance and toward attaining desirable country-specific SDGs.
dc.description.sponsorshipUniversity of Vaasa (UVA)
dc.description.sponsorshipOpen Access funding provided by University of Vaasa (UVA).
dc.identifier.doi10.1007/s11356-022-18666-5
dc.identifier.endpage36615
dc.identifier.issn0944-1344
dc.identifier.issn1614-7499
dc.identifier.issue24
dc.identifier.pmid35066852
dc.identifier.scopus2-s2.0-85123481622
dc.identifier.scopusqualityQ1
dc.identifier.startpage36608
dc.identifier.urihttps://doi.org/10.1007/s11356-022-18666-5
dc.identifier.urihttps://hdl.handle.net/20.500.13099/2315
dc.identifier.volume29
dc.identifier.wosWOS:000745590000002
dc.identifier.wosqualityN/A
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakScopus
dc.indekslendigikaynakPubMed
dc.language.isoen
dc.publisherSpringer Heidelberg
dc.relation.ispartofEnvironmental Science and Pollution Research
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/openAccess
dc.snmzKA_WOS_20250316
dc.subjectG-20
dc.subjectClean energy
dc.subjectEnvironmental sustainability
dc.subjectSustainable development
dc.subjectEconomic freedom
dc.titleThe role of economic freedom and clean energy in environmental sustainability: implication for the G-20 economies
dc.typeArticle

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